The American company Oaktree has stated that it has taken over ownership of Serie A Champions Inter Milan after the club’s president, Steven Zhang was unable to repay a debt of almost €400m.
Oaktree in an official announcement revealed, “As of May 22, funds managed by Oaktree Capital Management, L.P. (“Oaktree”) have assumed ownership of FC Internazionale Milano. This follows the non-repayment of Oaktree’s three-year loan to Inter Milan’s holding companies that matured on 21 May 2024 with a total balance due of approximately €395m.”
“In May 2021, with Inter Milan forecasting record financial losses during the 20/21 season, Oaktree provided its holding companies with rescue capital to stabilize the Club’s financial situation and enable it to continue operating, including to pay its players and employees.
“In the three years since Oaktree’s rescue financing, Inter has lifted its eighth and ninth Coppa Italia, secured its sixth, seventh, and eighth Supercoppa, earned its 20th Scudetto title and historic second star, and reached the UEFA Champions League final for the first time since 2010.
The establishment added, “Oaktree is committed to working closely with Inter Milan’s current management team, partners, the league and governing bodies to ensure the Club is positioned for success on and off the pitch; focusing on robust management, operations and governance with a vision for sustainable growth and success.”
Zhang’s Suning gained control of Inter in June 2016 and has claimed seven titles at the Stadio Meazza, including two Serie A titles. In 2020-21, Zhang became the first foreign President to win a Serie A title, and this season (2023/2024), the Nerazzurri made history by securing their 20th Scudetto.
Oaktree’s official statement confirms that the current directors, including Beppe Marotta, Alessandro Antonello, Dario Baccin, and Piero Ausilio, will remain in charge. However, Inter’s board of directors will step down, and a new president will be appointed.
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